Futures Industry Conference Begins

About 1,000 futures industry professionals are expected to attend the National Futures Industry Conference in Boca Raton this week.

The conference begins today with a few activities for early birds and lasts through Saturday at the Boca Raton Resort and Club.

Mary Ann Burns, a spokeswoman with the Washington-based Futures Industry Association, said the majority of the conventioneers will be brokerage firm representatives from futures and commodities exchanges in Chicago, New York and around the world, including China, England, France, Australia and Singapore.

A futures contract is a deal between a buyer and seller to lock in a price of a commodity or currency for a future delivery date. The contracts are then traded on the various futures and commodities exchanges. Wheat, coffee, corn, orange juice, soybeans, pork bellies, cotton, gold, silver and foreign currencies are among the traded items.

Industry professionals will discuss issues such as international business and becoming more customer-friendly.

They will also fit in plenty of fun: a 5-kilometer walk, tennis and golf tournaments are scheduled.

U.S. Department of Agriculture Secretary Mike Espy is scheduled to speak on Thursday morning.

Futures Industry Association spokeswoman Mary Ann Burns said there has been a small but steady increase in foreign attendance over the years, although she did not supply figures.